Weekly Unemployment Claims: Up 6K

Here is the opening statement from the Department of Labor:

In the week ending July 30, the advance figure for seasonally adjusted initial claims was 260,000, an increase of 6,000 from the previous week's revised level. The previous week's level was revised down by 2,000 from 256,000 to 254,000. The 4 week moving average was 254,750, an increase of 6,000 from the previous week's revised average. The previous week's average was revised down by 500 from 249,250 to 248,750.

The advance seasonally adjusted insured unemployment rate was 1.0 percent for the week ending July 16, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending July 16 was 1,359,000, a decrease of 25,000 from the previous week's unrevised level of 1,384,000. The 4-week moving average was 1,362,000, an increase of 8,750 from the previous week's unrevised average of 1,353,250.

This morning's seasonally adjusted 260K new claims, up 6k from the previous week's revised figure, was slightly worse than the Investing.com forecast of 259K.

Here is a close look at the data over the decade (with a callout for the past year), which gives a clearer sense of the overall trend.